Professional Documents
Culture Documents
GROUP MEMBERS
NO NAME ID PART
1 Đoàn Thành Nam HS160236 Introduction and organization
structure
2 Đỗ Hồng Nghĩa HS130237 Business strategy
3 Trần Tất Minh HS163470 Business strategy
4 Hà Vũ Bích Trang HS160688 Human resource management
5 Nguyễn Hải Yến HS160903 Challenges
6 Trần Nguyễn Hà Phương HS163105 Recommendations
TABLE OF CONTENT
I. Introduction
I.1 Purpose of group assignment
I.2 Brief introduction of the company
II. Literature review and critical analysis
II.1 Literature review
II.2 Critical analysis
II.2.1Organization structure
II.2.2Business strategy
II.2.3Human resource management
II.2.4Challenges
III. Recommendation and conclusion
IV. References
I. Introduction
I.1 Purpose of group assignment
We are group 3 from class HM1604. Today, we are going to show
organization structure, business strategy, human resource
management, and the challenges faced by Vingroup. With the
knowledge we got after this course we will give recommendations to
Vingroup for improving the performance. Through this assignment, we
want to provide to the class a good case study. And why do we choose
Vingroup? Because this is a Vietnamese group. In the future, we may
have business activities and of course, we will start with Vietnam's
market so this case study can help us know more about what Vingroup
did to have success like today. We need to analyze deeply a successful
Vietnameses company and its own market, so that is why our group
does this assignment.
The Board of Directors includes 1 general director, Ms. Le Thi Thu Thuy,
and 5 deputy general directors. The Board of Directors has the main
responsibility in organizing the implementation of resolutions of the general
meeting of shareholders and the Board of Directors, especially resolutions
related to the implementation of business plans, investment plans of the
company; decide on issues related to the company's day-to-day business; On
behalf of the company to perform contracts and other obligations; Manage and
supervise daily operations of the company.
The first stage: After graduating, Mr. Pham Nhat Vuong did a number of
businesses and made profits by investing in real estate in Ukraine after Vinpearl
was established in 2000 until 2002 when he founded the Group. Vingroup
company.
Whenever he and Vingroup start a new business, they feel like starting a new
business. This is also part of Vingroup's marketing strategy.
Select customer segments in the field of real estate and high-end retail.
Vingroup was the first enterprise to enter the high-end real estate market
segment with a mix of commercial centers, apartments, and high-class
office buildings. By identifying potential clients as young entrepreneurs
who have a decent income and are looking for a modern apartment in a
prime location. This is combined with the perfect ecosystem including
schools, hospitals, parks, etc., amusement parks... Vingroup has
succeeded in building a brand and affirming product quality compared to
customers' costs.
Aside from quality apartments, Vinhomes' commercial center-office
system has become the first choice for customers because of the services
and utilities it offers. Additionally, the real estate sector with its Vinpearl
system (hotels, tourism) and Vinpearl Land (entertainment) also attracts a
lot of attention.
For the retail sector, the retail system with Vincom and Vinmart
supermarkets quickly dominates the retail market share. Changing
people's daily shopping habits, Vinmart succeeded in building customers'
awareness of using clean, safe food and top-quality services when
shopping.
Aside from the real estate and retail markets, other brands such as
Vinmec, Vinschool, VinEco... also target the top customer segment, have
decent incomes, and seek out high-quality products to suit the people's
increasing standard of living.
II.2.4 Future development orientation
Vingroup aims to develop into the region's leading Technology - Industry -
trade and service corporation, constantly innovating and creating to create an
ecosystem In order to have a flourishing corporation like today, perhaps
Vingroup must have taken pre-emptive actions, reasonable policies, long-term
strategic plans, and set short-term common goals. . Surely the corporation must
always have a long-term and sustainable development orientation.
- The first thing we talk about is the strategy on human resource management
and training that the corporation always inherits and promotes in terms of human
resource management and training of the period, which will continuously
improve and enhance the model. up to down.
Management: The Group promotes decentralization and decentralization
for all levels in administration and management, continues to reform the
governance model from centralized management to a form of business
management with a business model. Subsidiaries are independent
business establishments and profit centers, while the parent company,
Vingroup – Joint Stock Company, plays the role of strategic planning,
evaluation, and management of the subsidiaries. This model is formed
and developed over time by distilling knowledge with the combination of
famous advisors. promises that this model will be with Vingroup for a
long time and will be expanded to match the trend of the times.
The management principle of 5ification: "nuclearization" is the
promotion of the role of the leader, because Vingroup believes that
human weakness is the key factor to create a breakthrough is the key to
opening the door. The Group always selects and selects staff with
excellent achievements and dedication to the profession for in-depth
training and experience, creating difficult challenges to perfect and
develop. develop them, train leaders to follow in the footsteps of previous
generations for a sustainable development goal, and of course, the
enlightened regime will be associated with their efforts.
Vingroup always pushes the governance to "standardize" the regulations.
'' Simplify" the management apparatus to increase productivity, one goal
is "automation", use technology and work to increase work efficiency,
reduce labor and require input sources. Divisions in the Group will
"effectively" increase revenue, optimize costs to improve productivity
and efficiency of the whole system.
Training and recruiting personnel: the corporation always focuses on the
quality of resources. Rigorous tests for each employee. In order for
employees not to be left behind, the group expands key training
programs, goes to study abroad internships at famous universities, or
undergoes short-term internships. The quality of the lectures is designed
by leading experts to bring useful knowledge to the staff. The Group also
increased the recruitment of highly qualified personnel, leading experts in
key fields.
- The second thing that Vingroup wants to aim for is the business strategy
orientation. in all fields, meeting all needs of consumers.
Technology-industry:
* The corporation wishes to develop VinFast to become one of the
world's leading smart electric vehicle companies. Because the common goal of
the world is to develop an ecosystem that uses environmentally beneficial means
and protects the health of the community, this strategy is aimed at creating a
favorable view of the group's products.
* Create more smartphone models with convenient functions for users with
prices ranging from affordable to high-end. The main segment is the upper class.
* Create a smart ecological system: smart city, smart home, smart service.
* Build and strengthen the reputation so that Vingroup Innovation Fund VinIF
becomes the leading fund in Vietnam in supporting, developing, and training
Vietnamese science and technology human resources.
Residential real estate:
* Expanding scale throughout the country, taking advantage of the vast land
fund of diverse ecosystems to continue developing megacities of outstanding
scale. Continuously research the market, listen to customers' opinions in order to
build and diversify products.
The first is the table of labor force structure by sex: 55.7% are men,
44.3% are women.
- Age structure
Next is the table of labor force structure by age: accounting for more
than half of the table is 55.2% - 18 to 30 years old, the second is
33.3% - 31 to 40 years old. followed by 9.4% of the 41 to 50 years
old group. The remaining 2 levels are 9.4% and 1.9% of the group
from 51 to 60 years old and over 60 years old
- Level structure
Selection is the process of finding the most suitable candidate for a job's
requirements among the attracted candidates. Selection process is a specific
series of steps used to decide which jobs to hire should be recruited. The
process begins when the hire applies for the job and ends with the hiring
decision. (4)
Vingroup's staff selection method is very special, the difficulty and level of
competition are not inferior to any reputable company. To take the entrance
exam to Vingroup, candidates can choose from a variety of application
methods suitable to their experience and ability. For new graduates or with
little experience who want to take the entrance exam and experience in the
real environment at Vingroup, candidates can apply in the annual "Talented
Intern" program. As for candidates who have experience, or possess solid
professional skills, they can directly apply for admission to Vingroup
according to the needs of the business. In general, the admission process to
Vingroup shows a strict and strict order; and principles in recruitment,
require candidates to be highly focused, honest, good listeners, and have a
desire to develop their career.
Chairman Pham Nhat Phuong believes that employees are the resource and
decisive factor for the development of an enterprise, so he pays great
attention to staff management and training. Accordingly, from leaders to
employees of Vingroup must be learners and learn anytime, anywhere. For
leading cadres, they must train their subordinates for 52 hours/year; 1
employee 1 year must train 100 hours. In addition, Vingroup also offers a
number of employee training programs such as leadership training,
management capacity training with more than 10,000 online courses,(2)
training campaigns to upgrade service quality at VinFast, VinSmart,
Vinpearl, Vinmec, Vincom Retail, Vinhomes, Vinschool, Professional
capacity improvement training, especially in the fields of Manufacturing,
Health, Education, Technology
2.3.6 Performance Appraisal
Vingroup has developed a salary and bonus policy suitable for each job
position, skill, and qualifications of employees, thereby creating motivation
to encourage employees to promote their capacity and responsibility to
improve productivity, quality and work efficiency. The first is salary,
Vingroup always maintains a higher salary for employees than other
businesses in the same field in the market based on the capacity, work
results and contribution level of each employee.
Benefits are things of import apart from the compensation that the
organization provides to its workers. (4)
2.4 Challenges
• The resources:
The next section is the challenges facing Vingroup. The biggest
challenge is that the resources of enterprises, including the capital,
quality of labor resources, scientific and technical qualifications,
and application of technology, are still limited. As a result, the
management and operation of enterprises have not been as
effective as expected, making Vingroup's productivity and
competitiveness still low.
Part of the challenge that Vingroup faces comes from within the
business itself, due to the lack of appropriate management methods
as well as methods of exploiting and optimizing existing resources
in the business. The process of international economic integration
requires enterprises to change their production models,
organizational models, and improve the quality of human
resources... to best meet development requirements. This also
requires a complete change in the way it is governed.
Hasn’t yet had a long-term and sustainable strategic plan:
An
other challenge that Vingroup faces is that the supply chain of
production, export, and consumption is disrupted and stalled
locally. The business had to delay or cancel the order. Along
with that, transportation costs are increasing day by day, leading
to a shortage of raw materials and input materials, making
production costs more expensive.